Hisense launches takeover bid for Gorenje

Late last year Gorenje disclosed that it was on an active search of a suitable strategic partner who would back the group in its long-term growth and development. And in early May 2018, it was made public that the company had selected Hisense as a strategic partner.

Hisense was selected as the best bidder with its offered price of 12 EUR per share subject to its acquisition of 50% + 1 share of Gorenje shares in the takeover procedure. Hisense also committed to launch a takeover intent and a takeover bid, which has now been made.

The takeover bid refers to 24’424’613 shares of the target company, bearing the code GRVG, reduced by 8’050’014 GRVG shares already held by Hisense.

Hisense has offered to pay EUR 196.5 million (EUR 12 per share), for the 16’374,599 shares of the company it does not already own.